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EU Says Cancun Climate Accord is Important Step To Binding Deal

The European Union said the agreement reached at a global climate summit today was an important step on a “long and challenging” road towards a binding treaty to tackle global warming.

Envoys at the United Nations meeting in Cancun, Mexico, agreed after two weeks of negotiations to a climate-protection package including a fund that would manage a “significant share” of the $100 billion pledged last year in aid for poorer nations and a plan to reduce deforestation.